How to Deduct Moving Expenses From Your Taxes

Video Transcript

"I really hate moving. Luckily there is a way that you can deduct that on your tax return. I'm Kristen Brand and I'm going to show you how to take a moving deduction on your taxes. OK, first off, you can't just move every couple of years and take this deduction. Its actually got to be related to your job. So if where you live now is within a mile from where you work now, your new job has to take you 50 miles further away than where you are currently. So you've got to do that test from your old place to your new place and if it meets that test, then you can deduct the cost of moving from place to place. Once you've figured out that that's the case, keep all of your receipts. You can deduct the gas and the mileage in your personal car to get from point A to point B. If you've got to spend the night in hotel, that counts. If you have to buy boxes and tape to pack up your things, then you can use that as well. The thing that you can't use is if you stop for a nice steak dinner on the way. Your food unfortunately won't count for that purpose. I'm Kristen Brand and those are some things that you can deduct on your taxes if you have to move for your job."